‘Europe is extremely sick’, says Deutsche Bank chief economist

‘Brussels urgently needs a €150 billion bailout to begin a major recapitalization program for its banks, according to Deutsche Bank’s David Folkerts-Landau.
In the aftermath of UK’s Brexit vote, the focus of attention has switched to Italy’s banking sector, which has accumulated €360 billion in bad loans, and growing.
A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread to the entire EU.’
Read more: ‘Europe is extremely sick’, says Deutsche Bank chief economist

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